Nglcc Foundation

Nonprofit profile at a glance

EIN
300271980
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Washington, DC, USA
Phone
2022349181
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$2,134,960
Expenses
$1,563,678
Assets
$408,283
Liabilities
$17,340

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • CHANCE MITCHELL (CO-FOUNDER, CEO)
  • JUSTIN NELSON (CO-FOUNDER, PRESIDENT)

Highest reported compensation

  • CHANCE MITCHELL (CO-FOUNDER, CEO): $667,112 total reported compensation
  • JUSTIN NELSON (CO-FOUNDER, PRESIDENT): $645,189 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation will support nglcc in providing educational information to nglcc's members and the public at large on subjects useful to the membership and beneficial to the community. Nglcc is organized and operated to promote the common business interests of its members who represent gay, lesbian, bisexual and transgender businesses ("glbt businesses"). The foundation will support nglcc by funding (or conducting directly) these educational and charitable activities in the future to the extent it is able to do so.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 75
  • Accountability: 85
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: $60,634.38 raised per $1 spent on fundraising; rating input score 100; 100th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 26.8%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 9.2% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 17.2% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 13.9% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 73.2% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $667K · 8 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.